American Battery Technology (NASDAQ:ABAT) Sees Significant Drop in Short Interest

American Battery Technology (NASDAQ:ABAT) saw a large decline in short interest in the month of December. As of December 15th, there was short interest totalling 5,330,000 shares, a decline of 21.8% from the November 30th total of 6,820,000 shares. Approximately 7.2% of the shares of the company are sold short. Based on an average trading volume of 2,510,000 shares, the days-to-cover ratio is presently 2.1 days.

American Battery Technology Trading Up 7.0 %

ABAT stock opened at $3.36 on Friday. American Battery Technology has a 1-year low of $0.73 and a 1-year high of $5.07. The firm has a market capitalization of $257.02 million, a PE ratio of -3.43 and a beta of 2.17. The business’s 50 day simple moving average is $1.07 and its 200 day simple moving average is $1.06.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Dopkins Wealth Management LLC boosted its holdings in shares of American Battery Technology by 76.5% during the third quarter. Dopkins Wealth Management LLC now owns 50,000 shares of the company’s stock worth $54,000 after acquiring an additional 21,664 shares during the period. State Street Corp boosted its stake in American Battery Technology by 26.9% in the 3rd quarter. State Street Corp now owns 204,200 shares of the company’s stock valued at $218,000 after purchasing an additional 43,300 shares during the period. Finally, Geode Capital Management LLC increased its position in American Battery Technology by 6.6% during the 3rd quarter. Geode Capital Management LLC now owns 645,063 shares of the company’s stock worth $690,000 after buying an additional 40,169 shares during the period. 9.88% of the stock is owned by institutional investors.

American Battery Technology Company Profile

American Battery Technology Company operates as a battery materials company. The company explores for resources of battery metals, such as such as lithium, nickel, cobalt, and manganese; and develops and commercializes technologies for the extraction of battery metals, as well as commercializes integrated process for the recycling of lithium-ion batteries.